How to send money to Luxembourg

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What you’ll need to know when sending money to Luxembourg.

Between banks and online transfer companies, you may be wondering what the best option is when you’re looking to send money to Luxembourg. Since Luxembourg uses the euro, you’ll have plenty of services to choose from. This will keep the expense down and get you the most euros for every dollar you send. Our guide will help you decide which service to go with.

Our pick: TransferWise

When you need to send money, benefit from competitive mid-market exchange rates and straightforward fees with TransferWise.

Fair service fees and mid-market rates — a major market differentiator.

Compare up to 4 providers

How do international money transfers work?

International money transfers involve converting one currency into another. For transfers from the US to Luxembourg, this involves converting the US dollar (USD) with the euro (EUR). You can do this online, over the phone or in person by using your debit card or cash. Your recipient can receive their funds as a bank transfer or as cash, and the process is generally quite fast–usually completed within a handful of days.

Banks versus money transfer companies

David Schmidt first visited America as a teenager. Ever since, he wished to relocate to this country. Now that he’s here and has a steady job, he wants to send some euros back home to Luxembourg to his mother who lives alone. He plans to send around $1,000 every month.

David has recently moved to the US and wants to send $1,000 home to his mom in Luxembourg City. He has an account with a major bank in the US, but his friend suggested he find a better deal through a money transfer service.

US bank

Money transfer service

Exchange rate

$1 USD = $0.938 EUR

$1 USD = $0.945 EUR

Transfer fee

$40

$10

Amount received for $1,000

898 EUR

935 EUR

Transfer time

2-5 days

1 day

Transfer options

Bank account

Bank account

Difference of

37 EUR

Not only will his mom receive more euros through the transfer service, they won’t have to wait as long for the transfer to complete and David won’t have to pay as much money as a fee. David creates an account and starts using the money transfer company whenever he wants to send money home.

How do I compare transfer companies when sending money to Luxembourg?

While money transfer companies tend to rate better than banks in the field of international fund transfers, not all are equal. When comparing your options, pay attention to these factors:

Exchange rate and fees. A money transfer company may offer highly competitive exchange rates, but it may also charge high fees to compensate for the savings. The reverse holds true as well. This is why you should look at how much money the recipient will receive at the end of the transfer.

Ways to send money. The most financially viable option might not be the most convenient. Most banks and some money transfer companies let you send money to Luxembourg in person at a branch office. Some of these businesses let you transfer funds over the phone. You can also find money transfer companies that offer their services through the Internet.

Ways to receive money. The recipient can get money directly into a Luxembourgian bank account. Another option is to collect the transferred money by visiting a cash pickup location.

Turnaround time. The quickest way to send money to Luxembourg is to get the recipient to collect money at a cash pickup location. These transfers can happen almost instantly. If you’re transferring money to a Luxembourgian bank account, the turnaround time depends on the transfer company you use.

Using the same bank. If you and the recipient have accounts with the same bank, using its services to transfer funds can be to your advantage. This would be through reduced fees and a quicker turnaround time.

Transfer options. If you plan on sending money to Luxembourg periodically, look for a company that lets you make scheduled payments. Some also offer forward contracts, which allows you to lock in an ideal exchange rate now and transfer the money later.

Customer service. If you need to contact a company representative for any reason you should be able to do so online as well as over the phone.

Foreign exchange rates explained

Exchange rate determines how much one country’s currency is worth when converted to another currency. A strong currency will yield more money when exchanged with a country that has a weak currency. The euro is traditionally stronger than the US dollar. All exchange rates are flexible, so this amount will change from day to day and month to month depending on the global economic market.

How do I send money from the US to Luxembourg?

Although you can use a bank to complete your transfer, you’ll likely save money by going with a dedicated money transfer company. You can find one in the table above to start the application process.

Once you’ve found a company you’d like to go through, click Go to Site.

Enter your and your recipient’s personal information.

Save your tracking number to make sure your transfer goes smoothly.

After your recipient confirms that they’ve received their funds, your transaction is complete. That’s all it takes to send money from the US to Luxembourg.

Tips for picking up cash in Luxembourg.

Luxembourg has a low crime rate, but that doesn’t mean you shouldn’t be safe when you’re picking up cash. Bring someone along with you and never take out large amounts of cash in public. Move your money into a bank account or safe as soon as possible to avoid the possibility of being stolen from. At the end of the day, your safety is key, so be aware of your surroundings when carrying around money.

Same-day cash transfers in Luxembourg

Same-day cash transfers are possible, but they will generally net you a worse exchange rate on top of hefty fees. If you can avoid making a same-day transfer, you and your recipient will save money. You’ll be able to convert your dollars for euros easier with a multiple-day transfer, so consider this instead.

Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

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